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Home Sales declined

Property values are exorbitant right now; the market is volatile, the new sales of homes are dropping, the gov is STILL (partly) shut down (12 days now) and Trump is in office. I'd love some professional insight in dumping my prop (for alt personal investment). I am planning to retire in 5 years and my nest egg IS my home. I only owe 92k (a 2nd mortgage i took out in 2010) and paid off my 1st in 2017. My home is valued at $659,000. I purchased in 2009 for $440,000. I am thinking about selling now for a safer investment. The market seems like it may have hit a ceiling. Thanks for your time to read my dilemma and your advice. by sharon11 from Compton, California. Jan 2nd 2019 Reply

Ralph Richard Guertin (
#2 ranked lender in Florida - 794 contributions

None of us on the panel has a crystal ball, but it does seem to be a little top heavy and global economies are slowing down and i live in a hot neighborhood and prices have declined 10% since a 18 months ago, so make the decision that is right for you, the old saying is nobody went broke by taking a profit is a good one..Good luck

Jan 4th 2019
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,915 contributions

The best time to sell? Anyone's guess. If you want out, put the house on the market this spring, take what you can get, and run. Looks like about a $220,000 profit in 9-years. I'll take it! Rates, while up from historic lows, are still very attractive in the 4.50% to 5.0% range. The economy is booming, but for some weird reason (I think I know why), things have really slowed down since November.

Jan 7th 2019
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